The Importance of Consumer Product Metrics and Human-Curated Content

The Importance of Consumer Product Metrics and Human-Curated Content

In the world of consumer products, metrics play a crucial role in determining the success or failure of a product. However, it is often lamented that these metrics are all terrible. Let's delve into why this is the case and explore the significance of human-curated content in the process.

When we look at typical product metrics, we find that a staggering 90% of consumers refuse to sign up for a product. Even among those who do sign up, over 90% of users disengage and become inactive over time. This trend is especially prevalent in mobile apps, where upfront conversion rates are lower but engagement metrics are relatively better. However, if we shift our focus to the homepage, we would expect higher signup rates. The reason behind this is that the traffic to the homepage is usually driven by word of mouth, resulting in sign up rates of 10% or even higher. People actively seek out the product because they want to try it, leading to better conversion rates.

But even with higher signup rates, the challenge lies in ensuring sustained engagement. More often than not, over 90% of users are not engaged on a daily basis. They either churn or are only active a few days per month. In fact, anything more than 10% of total users coming back every day is considered a success case. Unfortunately, it is quite common to see engagement rates as low as 5% or even lower. To improve engagement and frequency, it is crucial to tie the product into someone's pre-existing behaviors rather than asking them to do something entirely new. By aligning with existing habits and routines, the chances of retaining active users increase significantly.

Another fascinating insight is that a significant portion of users, often 50% or more, do not know anyone else in the service. This means that the platform needs to provide a compelling experience even in the absence of personal connections. Backfilling the feed with content from just one person or impersonal content becomes essential in such cases. Instagram, one of the most explosively viral products in recent history, had a staggering 65% of their users disconnected from anyone else. This highlights the challenge of creating a dynamic news feed when only a small percentage of users contribute content (known as the 1% rule). It becomes clear why creating a healthy and engaging news feed is incredibly difficult.

Now, let's shift our focus to the importance of human-curated content. In an era where information overload is prevalent, human-curated content plays a crucial role in cutting through the clutter. It offers a double-win situation where users not only learn from the best but also save themselves the trouble of conducting extensive research. While search engines like Google continuously update their algorithms to make search interactions more "human," human content curators take it a step further. They engage in the process with thoughtfulness, making it about building a community rather than just individual interests.

For brands, nothing is more important today than human connection. Careful human curation streamlines the learning process and creates a smoother experience for those who are interested. By having content previously reviewed by experts, users can trust the quality and relevance of the information presented. It adds a personal touch, making the experience more engaging and meaningful.

In conclusion, consumer product metrics may often be deemed terrible due to low conversion rates and engagement levels. However, by understanding the importance of aligning with pre-existing behaviors and creating a compelling experience, companies can strive for higher engagement and retention rates. Additionally, human-curated content emerges as a powerful tool in cutting through the clutter and building meaningful connections with users. By leveraging the expertise of human curators, brands can enhance the learning experience and create a sense of community.

Three actionable pieces of advice to improve consumer product metrics and leverage human-curated content are:

1. Focus on aligning the product with users' existing behaviors and routines to improve engagement and retention.
2. Invest in backfilling the feed with personalized or impersonal content to cater to users who do not have personal connections within the service.
3. Embrace human-curated content to provide users with a more engaging and meaningful experience, while also saving them the trouble of extensive research.

By implementing these strategies, companies can bridge the gap between good and great, and cultivate a loyal and engaged user base.